Atlanta Braves (NASDAQ:BATRK) Reaches New 1-Year High on Analyst Upgrade

Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)’s stock price hit a new 52-week high during mid-day trading on Friday after Rosenblatt Securities raised their price target on the stock from $52.00 to $69.00. Rosenblatt Securities currently has a buy rating on the stock. Atlanta Braves traded as high as $44.74 and last traded at $44.52, with a volume of 83597 shares trading hands. The stock had previously closed at $43.68.

Other research analysts also recently issued research reports about the company. Citigroup upgraded Atlanta Braves to a “hold” rating and set a $45.00 price target for the company in a research note on Friday, June 13th. Wall Street Zen upgraded Atlanta Braves from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd.

Insider Transactions at Atlanta Braves

In other Atlanta Braves news, EVP Deretta C. Rhodes sold 767 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $40.97, for a total value of $31,423.99. Following the completion of the transaction, the executive vice president now owns 3,112 shares in the company, valued at $127,498.64. This trade represents a 19.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael P. Plant sold 69,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $43.00, for a total value of $2,967,000.00. Following the completion of the transaction, the executive vice president now owns 205,593 shares of the company’s stock, valued at approximately $8,840,499. This represents a 25.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 121,872 shares of company stock worth $5,043,730 and sold 147,272 shares worth $6,322,139. 11.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Magnetar Financial LLC raised its holdings in shares of Atlanta Braves by 161.9% in the 4th quarter. Magnetar Financial LLC now owns 13,328 shares of the financial services provider’s stock valued at $510,000 after acquiring an additional 8,239 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Atlanta Braves by 16.8% in the 4th quarter. Rhumbline Advisers now owns 80,240 shares of the financial services provider’s stock valued at $3,070,000 after acquiring an additional 11,554 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Atlanta Braves in the 4th quarter valued at about $721,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Atlanta Braves in the 4th quarter valued at about $337,000. Finally, GAMMA Investing LLC raised its holdings in shares of Atlanta Braves by 9,017.3% in the 1st quarter. GAMMA Investing LLC now owns 9,482 shares of the financial services provider’s stock valued at $3,790,000 after acquiring an additional 9,378 shares in the last quarter. Institutional investors own 64.88% of the company’s stock.

Atlanta Braves Trading Up 5.3%

The firm has a fifty day simple moving average of $40.71 and a two-hundred day simple moving average of $39.50. The stock has a market cap of $2.36 billion, a PE ratio of -131.40 and a beta of 0.54.

Atlanta Braves (NASDAQ:BATRK) last announced its quarterly earnings data on Monday, May 12th. The financial services provider reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.28. The firm had revenue of $47.21 million for the quarter, compared to analysts’ expectations of $36.87 million. Equities analysts forecast that Atlanta Braves Holdings, Inc. will post -0.89 earnings per share for the current year.

About Atlanta Braves

Atlanta Braves Holdings, Inc owns and operates the Atlanta Braves Major league baseball club. It also operates mixed-use development project, including retail, office, hotel, and entertainment projects. The company was incorporated in 2022 and is based in Englewood, Colorado.